Fueling Innovation Through Financial Insight
You have a vision. Your game-changing technology is on a path to revolutionize the industry. That path, however, is fraught with peril and distraction. Between customers who pull your product in new and unexpected directions, the expensive war for talent, and the constant search for investment capital, keeping a line of sight on that strategic vision can prove difficult.
Private equity and other investment capital continues to flow toward innovative technology. But investors are increasingly selective, and windows for return on investment are decreasing. Technology entrepreneurs must maintain a delicate balance between tending to the day-to-day details of running the business while keeping investors happy so the financing continues to flow.
Accounting for Technology & Biosciences
As your business moves out of the start-up phase, the complexities only increase. Perhaps you’ve introduced your product or service overseas, either because you recognized an untapped market or you followed a key client. Would an office in this new market be able to support itself if you lost that key client? Have you thought through the tax implications of your pricing for the intercompany transfer of intellectual property (IP) rights, research and development (R&D) and other intangible property? Opportunities to migrate IP to lower-taxed jurisdictions are attractive, but must be weighed against increasing scrutiny of transfer pricing practices. Are you prepared to comply with all of the statutory reporting requirements of the local jurisdictions to keep your business in good standing with foreign governments?
To achieve profitable growth while avoiding the pitfalls that await many unwary technology entrepreneurs, you need access to experienced professional advisors who can support you wherever your business takes you. By collaborating with our peers within Bennett Thrasher and through our affiliation with international accounting association DFK International, we provide comprehensive financial reporting and assurance, tax and consulting support to software developers, biotechnology, financial technology and many other technology-based businesses throughout the U.S. and around the world.
Bennett Thrasher provides the insight technology companies need to achieve their business and financial goals by:
- Providing accurate, timely and relevant financial information through outsourced accounting, write-up and tax compliance support
- Minimizing the corporate global effective tax rate through tax-efficient structuring of newly formed or acquired subsidiaries
- Preparing transfer pricing studies in accordance with U.S. and foreign regulations to take advantage of opportunities to migrate technology and other intellectual property to lower-taxed jurisdictions
- Planning for the shareholder tax implications of mergers and acquisitions, recapitalizations and other liquidity events
- Complying with and taking advantage of the myriad of rules and requirements associated with state and local income, sales, use, property and payroll taxes
- Claiming tax credits, such as R&D and entertainment tax credits, and negotiating relocation and economic development incentives
If you need comprehensive accounting and consulting support so you can keep your focus on developing and marketing your technology products, contact Richard Bartolanzo or call 770.396.2200 to schedule a consultation.